0146 GMT - Food Empire Holdings' 2H earnings are likely to be in line with expectations, says UOB Kay Hian, which forecasts 2H net profit of US$22 million-US$23 million for the food and beverage manufacturer. The company's revenue is expected to grow on strong demand and increased marketing efforts, but margins will probably be hit by currency depreciation and rising coffee prices, the brokerage's analysts say in a note. Meanwhile, Food Empire is effectively targeting its high-growth markets, with a new coffee manufacturing facility starting construction in 1Q 2025 in Vietnam, the analysts add. The brokerage maintains the stock's hold rating, but raises the target price to S$1.10 from S$1.00 to reflect a valuation roll-over. Shares are 1.0% lower at S$1.00. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
January 21, 2025 20:46 ET (01:46 GMT)
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